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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Nikola Corporation    NKLA

NIKOLA CORPORATION

(NKLA)
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Delayed Quote. Delayed Nasdaq - 10/26 04:00:00 pm
20.91 USD   -7.23%
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Investors at CNBC conference anticipate more market volatility but see opportunities

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09/30/2020 | 04:50pm EDT

Investors including Steven Schwarzman, Mary Callahan Erdoes and Barry Sternlicht are bracing for more market volatility as the U.S presidential vote nears but see opportunities to make money in commercial real estate and financial companies.

The S&P 500 index has slipped almost 5% this month after recovering for months amid the economic crisis sparked by the coronavirus pandemic, and some speakers at the CNBC Institutional Investor Delivering Alpha Conference on Wednesday forecast bigger market swings ahead.

"I see a pretty significant correction among high-flying (technology) stocks if the Democrats win," said real estate investor Barry Sternlicht who runs Starwood Capital Group.

"Short term it will be bad for equities," he forecast, citing presidential hopeful Joe Biden's plan to raise the corporate tax rate to 28% from 21% as a negative factor.

For Mary Callahan Erdoes, chief executive of JP Morgan Chase's asset and wealth management business, risks stretch beyond the U.S. election to include the COVID-19 crisis and fallout of Britain leaving the European Union. "Is my portfolio right-sized for another bout of volatility?," she urged investors to ask themselves.

On the other hand, investors also expressed optimism that a virus vaccine would arrive and that the economy is recovering.

Blackstone Group CEO Stephen Schwarzman said commercial real estate, especially warehouses and laboratory space, has been a focus while his firm largely exited hotel and retail real estate investments. "We are the largest owner or second largest owner in the world in health care office buildings, research labs. That business is doing great. Everyone's paying their rent," Schwarzman said.

John Vaske, head of the Americas at Singaporean investment giant Temasek, said rising affluence and longer lifespans had already made investments in fintech and payments groups more attractive. Those trends are being accelerated by the pandemic.

Yasir Al-Rumayyan, governor of Saudi Arabia's Public Investment Fund, said he still likes the $45 billion commitment to SoftBank Group's Vision Fund, the world's biggest technology focused venture capital fund. "It's not the greatest performance, but still it's not down, which is something really good especially with this kind of investment," he said.

Activist investor Jeff Ubben, who recently left ValueAct Capital to found impact investing firm Inclusive Capital, backed Nikola Motor Company, where he sits on the board, after the electric truck company came under fire from a short seller and its founder exited. "It is doing the hardest thing by trying to clean up dirty industries," Ubben said.

(Reporting by Svea Herbst-Bayliss; Editing by Cynthia Osterman)

By Svea Herbst-Bayliss and Chibuike Oguh


Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -2.29% 27685.38 Delayed Quote.-2.99%
NASDAQ 100 -1.61% 11504.518824 Delayed Quote.33.89%
NASDAQ COMP. -1.64% 11358.936824 Delayed Quote.28.71%
NIKOLA CORPORATION -7.23% 20.91 Delayed Quote.102.62%
S&P 500 -1.86% 3400.97 Delayed Quote.5.27%
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Financials (USD)
Sales 2020 0,11 M - -
Net income 2020 -417 M - -
Net cash 2020 519 M - -
P/E ratio 2020 -18,8x
Yield 2020 -
Capitalization 7 924 M 7 924 M -
EV / Sales 2020 66 918x
EV / Sales 2021 90,7x
Nbr of Employees 256
Free-Float 37,5%
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Technical analysis trends NIKOLA CORPORATION
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 6
Average target price 42,00 $
Last Close Price 20,91 $
Spread / Highest target 278%
Spread / Average Target 101%
Spread / Lowest Target -28,3%
EPS Revisions
Managers
NameTitle
Mark A. Russell President, Chief Executive Officer & Director
Stephen J. Girsky Chairman
Kim J. Brady Chief Financial Officer & Director
Dane Davis Chief Technology Officer
Isaac Sloan Chief Information Officer & Software Architect
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